Global computerized physician/provider ordering (CPOE), was valued at USD 1.13 billion in 2015. It is projected to grow at 6.2% CAGR over the forecast period. One of the major drivers of the CPOE market's growth is the increasing incidence of medication errors during the ordering and transcribing stages.
North America CPOE Market Share, By Component, 2013 - 2024, USD Million
According to the U.S. Food and Drug Administration (FDA), an increase in manual medication errors can lead to death or severe injuries. The cumulative effect of this error is affecting around 1.3 million Americans annually. These errors can be found in all aspects of the distribution system, including prescribing and repackaging, dispensing, administering, monitoring, and administration. Poor legibility, poor communication, and patient misuse are the main causes of these mishaps. Computerized physician order entry (CPOE), which aids in overcoming these issues, helps to avoid fatalities due to medication errors.
As a key driver of this sector's growth, government has taken more proactive measures to develop and implement technologically advanced healthcare IT technologies (IT) worldwide attributes. During the 58th World Health Assembly (WHO), the World Health Organization (WHO), urged member countries to take various strategic actions to support information technology. This industry is known for its key strategic actions, including a long-term plan of deployment and an effort to reach all communities with vulnerable populations.
Centralization of medical systems could streamline processes and bring about several economic benefits. A key trend is the widespread adoption of Six Sigma principles of lean management across routine functions, resulting in efficient use of resources. This is why centralization will be more popular.
There are two types of CPOE systems: standalone and integrated. The dominant share of type segment was held by integrated systems and they are expected to see lucrative growth in the future.
Integrated CPOE Systems are connected to all departments in a hospital. This has the added benefit of reducing documentation and lag time, thereby allowing for efficient management of time and resource. The software can also be used to verify prescriptions, dispensing and nursing documentation. This allows for accurate medication dispensing. It would also help maintain an optimal inventory system.
Hardware, software, as well as services are all components of the computerized order entry (CPOE). In 2015, services accounted for a significant portion of the market and will continue to grow at a steady rate over the period 2016-2024. The outsourcing of multiple IT operations can save time and money. It also provides qualified staff that eliminates the need to train and develop professionals. This was a major factor in the CPOE market dominance of the services segment.
Hardware components are also a dominant market segment. Their growth was influenced by the high cost of infrastructures such as high-speed internet and computer systems.
The delivery modes that computerized providers order entry applications support include on-premises, cloud-based, or web-based delivery. In 2015, a significant share of the delivery was via web-based. This can be attributed to increased penetration of internet services worldwide and growing digital literacy.
Cloud-based deployments are expected to grow at a steady rate during the forecast period. Cloud-based systems offer many advantages, including remote access to data and real time data tracking.
Hospitals, ambulatory centres, doctors, and emergency care services are the key end-users. In 2015, hospitals held a substantial share of over 30.0% and will continue to enjoy steady remuneration growth in the future. This segment is dominated by a large number of patients and better financing. The second largest segment is emergency healthcare services. This is due to the efficient management of large order volumes and increased order completeness, which reduces the overall clinical decision-making time. Regional Insights
These regional segments are North America, Europe and Asia Pacific, Latin America, MEA, and Latin America. With a more than 50% share of the global CPOE market in 2015, North America dominated. This region saw a higher per capita healthcare expenditure and supportive initiatives to promote IT in healthcare, such as CPOE and healthcare IT readiness. There was also a greater availability of skilled professionals, which influenced the adoption of this utility.
Asia Pacific, on the other hand is expected to grow at a profitable rate of more than 6.8% over the forecast period. This can be attributed to the improvement of medical infrastructure and acceptance of technological advancements in the healthcare system. Market players can also benefit from the region's growing investment opportunity by implementing consistent reforms to their investment policies and a large target population.
Cerner, CliniComp International, Allscripts, Epic Systems, GE Healthcare, McKesson Corporation, MEDITECH, MEDITECH, McKesson Corporation, McKesson Corporation, MEDITECH, MEDITECH, Inc., Siemens Healthcare, Visual MED, Philips Healthcare, Athena Health.
To ensure greater sustainability, market players have taken key initiatives to launch new products, improve the quality of older versions, strengthen strategic collaborations among established and new entrants, as well as mergers and acquisitions. NantHealth and Allscripts worked together to create point-of-care prescription software solutions in March 2015. This collaboration enabled Allscripts to expand its portfolio of CPOE systems.
The study covers types, components and delivery modes. It also includes end-use. The attributes are presented in platforms that will provide insight to investors, distributors, manufacturers, and new entrants.
Forecasts and estimates are made using triangulation of data that has been analyzed with more than three methods. One approach that is based on the healthcare IT market and the parent market is the top-down one. The QFD model has been used to analyze the perspectives of more than 100 primary respondents.
To ensure the quality of the studies, the report's regional scope is limited. However, the report can be customized to meet specific needs.
b. Global market for Computerized Physician Order Entry (CPOE), was valued at USD 1.45 Billion in 2019, and is forecast to grow to USD 1.54 Billion by 2020.
What is the computerized market growth for physician order entry?b. Global Computerized Physician Order Entry (CPOE), is expected to grow at a 6.2% compound annual growth rate from 2016 to 2024, to reach USD 1.9 Billion by 2024.
Which segment had the largest market share for computerized physician order entry?b. Integrated was the dominant segment in the Computerized Physician Order Entry market (CPOE), with a share at 70.8% in 2019. Their ability to connect across multiple functionalities, such as procurement and nursing, is what explains this dominance.
What are the major players in the computerized physician order entry marketplace?b. b.
What are the driving factors for the computerized physician order market entry?b. The market is driven by a growing number of medication errors during the ordering or transcription stage, constant influx of technologically advanced system and inventory management, and simple documentation.
Up Market Research published a new report titled “Computerized Physician Order Entry Market research report which is segmented by End-Use (Ambulatory Centers, Hospital), by Type (Standalone, Integrated), by Delivery Mode (Cloud Based, On-Premises, Web Based), by Component (Services, Hardware, Software), By Players/Companies Visual MED, CliniComp International, Inc), Philips Healthcare, Allscripts, Siemens Healthcare, McKesson Corporation, Epic Systems, MEDITECH (Medical Information Technology, GE Healthcare, Cerner, Athena Health”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Computerized Physician Order Entry Market Research Report |
By End-Use | Ambulatory Centers, Hospital |
By Type | Standalone, Integrated |
By Delivery Mode | Cloud Based, On-Premises, Web Based |
By Component | Services, Hardware, Software |
By Companies | Visual MED, CliniComp International, Inc), Philips Healthcare, Allscripts, Siemens Healthcare, McKesson Corporation, Epic Systems, MEDITECH (Medical Information Technology, GE Healthcare, Cerner, Athena Health |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 232 |
Number of Tables & Figures | 163 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by End-Use (Ambulatory Centers, Hospital), by Type (Standalone, Integrated), by Delivery Mode (Cloud Based, On-Premises, Web Based), by Component (Services, Hardware, Software).
Computerized Physician Order Entry Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Computerized Physician Order Entry Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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